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  • Are oil markets better off with OPEC cuts?
     

    Jadwa Investment’s latest Quarterly Oil Market Update anticipates that OPEC’s decision to announce, but not to implement, a cut in production will likely lead to a small cut in oil production “more akin to a production ’freeze’ rather than an outright cut”. “Any agreement by OPEC, if reached, will of course need to be acted […]

     
  • Saudi Arabia’s PIF, Japan’s Softbank Team Up to Create a Tech Investing Behemoth
     

    Saudi Arabia and Japan’s SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world’s largest private equity investors. Softbank is creating a new global tech investment fund, seeded with $25 billion of its own money. The fund, which will be London, UK based […]

     
  • Yemen’s Houthis Fire Another Missile into Saudi Arabia as Kingdom, Iran Spar at UN over War
     

    Saudi Arabia says it has shot down a ballistic missile fired into the Kingdom by Houthi rebels and their Iranian allies in the latest incident in Yemen’s civil war that has raged for nearly 19 months. The missile targeted the southwestern city of Khamis Mushait and was destroyed Tuesday night without causing any injuries, the Saudi Press […]

     
  • Saudi Arabia Switches to Gregorian Calendar
     

    Saudi Arabia has shifted to the Gregorian or “Western” calendar as a basis for paying civil servants as part of broader fiscal changes, according to reports. The kingdom adopted the lunar Islamic calendar when it was founded in 1932, but the change places its payment schedule in line with the West. It also brings civil […]

     
  • Saudi Arabia’s Foreign Ministry Criticizes JASTA, Congress Weighs Adjustment of Law
     

    Although the Congressional override of President Obama’s veto on the controversial Justice Against Sponsors of Terrorism Act (JASTA) was anticipated, it’s reality has proved shocking to U.S. leaders as well as countries globally.  Saudi Arabia’s foreign ministry has issued a statement strongly condemning the legislation and noted, as has been done frequently in the run-up […]

     
  • Jadwa Investment Report Looks at ‘Significant Implications of Vision 2030 on Trade and Financial Flows’ for Saudi Arabia
     

    A recently released Jadwa Investment report researches the impact that Vision 2030 is likely to have on international trade and investment flows with Saudi Arabia. This report looks at the evolution of the current account for the period 2016-30, which is forecast to reach a surplus of $135 billion (8 percent of GDP) by 2030. “While oil export […]

     
  • Deputy Crown Prince Mohammed bin Salman Cracks Bloomberg’s 50 Most Influential in Finance
     

    Saudi Deputy Crown Prince Mohammed bin Salman has been ranked 42nd Bloomberg’s list of the 50 Most Influential People in the world of finance. Bloomberg said that the 31-year old prince has drawn up a plan to transform the world’s biggest crude exporter into a diversified economy fit for the next era, almost eight decades after […]

     
  • New Desalination Technology at KACST in Saudi Arabia ‘Opens Doors to Higher Worldwide Clean Water Sources’
     

    The first worldwide adsorption water desalination and cooling plant has been successfully implemented by King Abdulaziz City of Science and Technology (KACST) in August 2016, the university said in a press release, as the Kingdom continues to be a global leader in desalination technology. Adsorption Desalination and Cooling (ADC) is a newly invented technology, co-owned […]

     
  • President Obama to Veto JASTA Bill
     

    White House Press Secretary Josh Earnest said on Monday that U.S. President Barack Obama will veto the controversial Justice Against Sponsors of Terrorism Act (JASTA) passed by congress last week, setting up a showdown with Congress. Earnest reiterated the White House’s fear that the measure would expose U.S. citizens to legal action overseas if foreign countries pass […]

     
  • Hajj 2016 Begins: Millions Gather in Saudi Arabia
     

    An estimated two million pilgrims have converged in Saudi Arabia for the start of the annual Hajj pilgrimage today, lasting until Wednesday, September 13th. The hajj is one of the five pillars of Islam, which capable Muslims must perform at least once, marking the spiritual peak of their lives. Worshippers from more than 150 countries will embark on […]

     

MUST-READS

  • Saudi Arabia claims qualifying win over China at Asia World Cup

    Australia endured another disappointing evening in Asia’s World Cup qualifying on Tuesday as Graham Arnold’s side were held to a 0-0 draw by hosts Indonesia while Saudi Arabia claimed a late 2-1 win over China. Hassan Kadish’s 90th minute header earned victory for the 10-man Saudis, who moved onto four points from their opening two games in Group C of the third phase of qualifying

  • Saudi Arabia among top global investment destinations, says Al-Falih

    He explained that convincing international investors to invest their money in Saudi Arabia was not difficult, as investors were looking for a destination that offers several key factors, such as political and economic stability, predictability, a long-term vision, abundant opportunities, a strategic location and presence of local investors. Almost 87% of the 1,000 Vision 2030 initiatives have been implemented or are nearing completion. Saudi Arabia included more goals after completing the initial ones.

  • Microsoft and partners to generate $24 billion in Saudi Arabia over next four years, says IDC study

    Microsoft, along with its partners and cloud-utilizing customers, is projected to generate approximately $24 billion in additional revenue above the 2022 figures over the next four years, according to a recent study from IDC. The same research indicates that by 2026, Microsoft’s partner ecosystem will earn roughly $8 for every $1 of revenue generated by Microsoft’s cloud services. This presents significant opportunities for partners in the Kingdom to enhance their revenues, increase local content contributions, and expand their customer bases.

  • Saudi proptech HissaTech raises $670,000 pre-Seed

    Saudi PropTech startup HissaTech has announced raising $667,000 in a pre-seed funding round led by angel investors. The company aims to boost real estate investment in Saudi Arabia by enhancing its digital platform, which simplifies access to income-generating properties.

  • Saudi nationwide initiative to replace old ACs

    A Saudi government agency has launched a nationwide initiative to replace old air conditioners with new ones with the aim of boosting energy efficiency and cutting household consumption. Dubbed “Estbdal” (Replacement), the initiative is undertaken by the Saudi Energy Efficiency Centre in collaboration with other competent government bodies. More than 30 retailers, 350 showrooms and four Saudi plants are joining too.

  • Saudi liquidity reaches $770bln by end of Q2

    The current level, with a growth of SR238,150 million, is the highest, compared to the same period in 2023, when it amounted to SR2,660,556 million. The liquidity levels reflect the money supply in its broad and comprehensive concept (M3), according to data provided by the monthly bulletin of the Saudi Central Bank for July 2024.

  • Saudi Arabia starts time planning for 2025 Hajj season

    Saudi Arabia announced the start of time planning for the 2025 Hajj season, during a meeting held on Sept. 8 in Jeddah, under the auspicious of Prince Khalid Al Faisal, Advisor to the Custodian of the Two Holy Mosques, Governor of Makkah Province and Chairman of the Central Hajj Committee.

  • Analysts predict growth despite Saudi GDP fall

    Saudi Arabia’s year-on-year GDP fell again in the second quarter, according to adjusted government figures released this week, but analysts have said the quarterly increase shows the economy is nearing the end of its negative run. GDP was down 0.3 percent year on year in the second quarter, but has risen by 1.4 percent since the previous quarter.

  • Gaza Impact Creep: Is the Fight Against ISIL a Casualty?

    Without such kinetic pressure, he is convinced ISIL would succeed in reconstituting itself in northeastern Syria from its safe haven in the Badiya desert, nominally under Syrian regime control – but largely ungoverned space below the large northern quarter of Syrian territory that Abdi’s forces control. ISIL continues to have funding streams in the northeast, including kidnapping for ransom and extortion, as well as regional inflows, and to find localized safe haven in communities with residual sympathy for the group.

  • U.S. and Iraq Try to Recast the Strategic Relationship

    The U.S.-Iraq relationship has been undergoing re-evaluation over the past five years, since the March 2019 capture by U.S.-led forces of the Syrian town of Baghouz, the last bastion of physical control by the Islamic State (IS) organization’s “caliphate.” U.S. military personnel, who had been withdrawn from Iraq in 2011, were sent back into the country in 2014 to help destroy the group’s control over major portions of both Iraq and Syria. U.S. forces successfully helped Baghdad rebuild its beleaguered national forces that essentially collapsed at the hands of the IS offensive.